>> welcome back. opec, the oil or tell -- the oil cartel, was set up in 1965 by five countries, iran, iraq, kuwait, saudi arabia, and venezuela, as a way of formulating policy. today, the organization is facing a number of challenges. it has to balance supply with the increasing demands for oil in many parts of the world, and it has to ensure that the prices remain stable. we will be examining the world's insatiable need for oil and whether there are any viable alternatives. first though, we look at consumption and production across the planet.